The Verkhovna Rada of Ukraine adopted as a basis the government draft of the Law of Ukraine “On Joint-Stock Company “Skhidny Mining and Processing Plant” (№15122). 246 MPs voted in favor.
“I am grateful to the parliamentarians for their support. This decision is aimed at preserving and developing the only enterprise in Ukraine that ensures the extraction of uranium ore and the production of natural uranium concentrate and covers up to 40% of the uranium needs of Ukrainian nuclear power plants,” emphasized the First Deputy Prime Minister of Ukraine – Minister of Energy of Ukraine Denys Shmyhal.
The draft law provides for the procedure for transforming the state-owned enterprise Skhidny Mining and Processing Plant into a Joint-Stock Company, 100% of whose shares belong to the state, and also establishes the features of the formation of the authorized capital and the functioning of the JSC.
The draft also amends the legislation regarding the introduction of a moratorium on bankruptcy and enforcement of decisions regarding the company’s property. The introduction of a moratorium is necessary to ensure continuous operation, financial recovery and prevention of loss of assets of SkhidGOK.
The adoption of the relevant draft law will allow for the further merger of SkhidGOK with NNEGC Energoatom and the implementation of the strategy of creating a vertically integrated holding that controls the entire technological cycle: from the extraction and production of uranium concentrate to the generation of electricity.
The legislative initiative is aimed at increasing the efficiency of the functioning of the nuclear industry of Ukraine and the competitiveness of the Ukrainian manufacturer, gradually increasing the company’s production volumes, attracting investments and increasing wages for employees. (Energy Ministry)